Summary
Donald Trump's second term as President has upended trade flows, as a mercurial tariff strategy leaves trade partners and rivals guessing,
In Asia, traditional American partners like Taiwan and South Korea are left scrambling after tariffs were announced on steel, auto parts and agricultural exports. Taiwan may also face restrictions on semiconductors. Meanwhile, Hong Kong's status as a free port did not shelter it from tariffs applied to China. And as the tit-for-tat tariffs with China escalates, in the background is the opioid crisis that had swept through America.
As Asia grapples with an upended global trade order, Trump's tariffs may end up realigning trade in the region. China is already seeking closer ties with its East and Southeast Asian neighbours. What happens to American and Asian trading relations once Trump's tariffs truly begin to bite?
No comments:
Post a Comment